Word: tariff
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...American view, which alone exudes any positive or optimistic undertones, is that only through withdrawal of trade restrictions leading to greater volumes of world trade and production can any real prosperity be assured. To this end, American delegates are empowered by Congress to reduce tariffs on any import up to 50 percent, and this authority glitters as the chief American concession to foreign nations. In return, our Government is seeking a general world-wide reduction of tariff barriers, and an end to the British Empire preference system...
Great Britain is, as yet, unwilling to abandon Empire Preference, although she heartily agrees to over-all tariff reductions. Her reluctance to meet America all the way is based, in part, upon her uncertainty as to whether our tariffs will again become a political football as well as her fear that American prosperity is at best an ephemeral thing. But Britain is also overly sensitive of her unaccustomed role of debtor nation and tends to keep a too watchful eye on bank balances, at the expense of economic initiative...
...home and throughout the world, is out finest and perhaps last chance to demonstrate the essential superiority of a free enterprise system as a medium for a high level of employment and standard of living as compared with the government controlled economics of other nations. By supporting a low tariff policy and by putting our own economic house in order, we can best achieve these aims...
...possible for many a once backward nation to dream of self-sufficiency. This technological tendency has been encouraged by the wartime and postwar shortage of transportation. The danger is that in the last two years wartime necessity may have hardened into peacetime policy, and that not even U.S. tariff concessions will be able to unfreeze worldwide restrictions. An expert from one of the "middle powers" at Geneva had this to say, privately, last week...
...British Government knows that more & more restriction is not the answer to its trade problem. On April 8, when Britain sits down at Geneva with the U.S. and 16 other nations to talk tariffs, the British are prepared to make an act of faith. They may surprise other delegates by offering to abandon a big part of the Empire preference system in return for tariff concessions in the hard-money countries, particularly...